Darden's "Worst" 401(k) Gets Even Uglier

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The 401(k) retirement savings plan the company crafted for its employees, which participants pay Wells Fargo over $700,000 annually to administer, was rated as one of the three worst in the nation. With an average retirement account balance of only $3,900...

Darden’s workers will enter into retirement with virtually no 401(k) assets. When they do, it may be tempting to blame them for failing to work harder, save more, or make better investment decisions—such as avoiding the stock of their employer. However, in my opinion, Darden itself, having stacked the deck against their employees, bears most of the blame. Let no one feign surprise when these hundreds of thousands of workers join the ranks of the elderly poor.

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